$238.38 Million in Sales Expected for Invitation Homes Inc (INVH) This Quarter
Brokerages expect Invitation Homes Inc (NYSE:INVH) to announce $238.38 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Invitation Homes’ earnings, with the highest sales estimate coming in at $238.86 million and the lowest estimate coming in at $237.61 million. The firm is expected to announce its next earnings report after the market closes on Thursday, May 11th.
According to Zacks, analysts expect that Invitation Homes will report full year sales of $238.38 million for the current financial year, with estimates ranging from $962.61 million to $983.77 million. For the next year, analysts expect that the company will post sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Invitation Homes.
Invitation Homes (NYSE:INVH) last released its quarterly earnings data on Thursday, May 11th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $238.80 million for the quarter, compared to the consensus estimate of $238.10 million. Invitation Homes’s revenue for the quarter was up 6.4% compared to the same quarter last year.
Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price (up from $23.00) on shares of Invitation Homes in a report on Tuesday. FBR & Co reissued a “buy” rating on shares of Invitation Homes in a report on Saturday, May 13th. JMP Securities assumed coverage on shares of Invitation Homes in a report on Monday, February 27th. They issued an “outperform” rating and a $25.50 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Invitation Homes in a report on Monday, February 27th. They issued an “overweight” rating and a $25.00 target price for the company. Finally, Morgan Stanley assumed coverage on shares of Invitation Homes in a report on Monday, February 27th. They issued an “overweight” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $24.09.
A number of large investors have recently made changes to their positions in INVH. Blackstone Group L.P. bought a new stake in shares of Invitation Homes during the first quarter worth about $4,801,407,000. Vanguard Group Inc. bought a new stake in shares of Invitation Homes during the first quarter worth about $159,769,000. FMR LLC bought a new stake in shares of Invitation Homes during the first quarter worth about $149,699,000. APG Asset Management US Inc. bought a new stake in shares of Invitation Homes during the first quarter worth about $141,895,000. Finally, BlackRock Inc. bought a new stake in shares of Invitation Homes during the first quarter worth about $92,688,000.
Invitation Homes (NYSE:INVH) traded up 0.60% during trading on Friday, hitting $21.78. 805,731 shares of the stock were exchanged. Invitation Homes has a 1-year low of $19.80 and a 1-year high of $22.15. The firm’s market capitalization is $6.76 billion. The company has a 50-day moving average price of $21.60 and a 200 day moving average price of $21.45.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Thursday, May 11th.
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About Invitation Homes
Invitation Homes Inc is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments.
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